Guar yesterday we have seen that market has moved 1.43% on lower supplies and expectations recent rains could delay fresh arrivals. In non-irrigated areas of Rajasthan, guar seed sowing begins after mid-June, when monsoon reaches the state, but this year delayed rains pushed back planting. Guar seed output in Rajasthan is expected to rise to 1.51 million tonnes in 2010/11 boosted by higher area and good monsoon rains. In Jodhpur guar prices gained 12.55 rupees to 2002.3 rupees per 100 kg. Market has opened at 2030 & made a low of 2025 versus the day high of 2064. The total volume for the day was at 155030 lots and the open interest was at 201930.Now support for the guar is seen at 2031 and below could see a test of 2008. Resistance is now likely to be seen at 2070, a move above could see prices testing 2086.

Trading Ideas:

Guar trading range is 2008-2086.

Guar settled positive on lower supplies and expectations of delay in fresh arrivals

Guar is taking resistance at 2070 and support is seen at 2031.

Guar seed output in Rajasthan is expected to rise to 1.51 million tonnes in 2010/11

In Jodhpur guar prices gained 12.55 rupees to 2002.3 rupees per 100 kg.